RCS - Pires Investments - New SVV1 Investment in EVERYANGLE
31/10/2022 07:00
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RNS Number : 5763E Pires Investments PLC 31 October 2022
31 October 2022
Pires Investments plc
("Pires" or the "Company")
New SVV1 Investment in EVERYANGLE
Pires Investments plc (AIM: PIRI), the investment company focused on
next-generation technology, is pleased to provide an update in relation to a
new investment completed by the first Sure Valley Ventures fund ("SVV1") in
EVERYangle Ltd, trading as EVERYANGLE, a Dublin-based, computer-vision company
that helps physical retailers, hospitality venues, and convenience service
stations to optimise operations.
EVERYANGLE has raised €2.7 million in a seed fundraise which will be used to
accelerate sales, invest in ongoing product development and drive further
expansion in the US and UK. The funding round was led by Sure Valley Ventures,
Act Venture Capital and Furthr VC (formerly DBIC Ventures), with participation
from Enterprise Ireland.
EVERYANGLE's platform uses computer vision and machine learning to analyse
CCTV footage rapidly and cost effectively at-scale to help retailers,
hospitality and fuel station operators gain rich in-store customer insights,
reduce loss and optimise their operations. The company plans to increase its
headcount over the next 24 months with recruitment underway for key hires in
machine learning, data science, software engineering, product management and
sales. EVERYANGLE has developed strategic go-to-market partnerships with major
vendors including Cisco and SAP, global distributors such as TD Synnex, as
well as international reseller partners including CDW and WWT. These extensive
partnerships enable EVERYANGLE to serve sectors such as retail, hospitality,
manufacturing and healthcare, with customers including Mulberry, Peloton and
Oxford Industries.
Pires has a combined direct and indirect interest of circa 20% in SVV1, a
venture capital fund focused on investing in the software technology sector
with a specific focus on Artificial Intelligence, the Internet of Things,
Cyber Security, Machine Learning, Immersive Technologies and Big Data.
Nicholas Lee, Director of Pires, commented:
"This represents an exciting new investment by SVV1. As the number of CCTV
cameras is rapidly increasing globally, EVERYANGLE's platform enables its
customers to gain valuable insights, reduce losses and optimise their
operations.
"This investment is expected to be the final new investment by SVV1 as the
fund now enters its realisation phase which, going forward, should lead to
attractive exits and cash returns for the Company."
Enquiries:
Pires Investments plc Tel: +44 (0) 20 3368 8961
Nicholas Lee, Director
Broker Tel: +44 (0) 20 7469 0935
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0936
Duncan Vasey/Lucy Williams
Financial media and PR Tel: +44 (0) 20 3004 9512
Yellow Jersey
Sarah Hollins
Henry Wilkinson
Annabelle Wills
Notes to Editors
About Pires Investments plc
Pires Investments plc (AIM: PIRI) is an investment company providing investors
with access to a portfolio of next generation technology businesses with
significant growth potential.
The Company is building an investment portfolio of high-tech businesses across
areas such as Artificial Intelligence, Internet of Things, Cyber Security,
Machine Learning, Immersive Technologies and Big Data, which the Board
believes demonstrate evidence of traction and the potential for exponential
growth, due to increasing global demand for development in these sectors.
For further information, visit: https://piresinvestments.com/
(https://piresinvestments.com/)
About EVERYANGLE
Established by David Owens in 2019, EVERYANGLE is focused on helping
retailers, hospitality venues and convenience service stations to better
understand their customers in-store, reduce loss and optimise operations
through computer vision technology.
Its platform includes solutions for:
· Brick-and-Mortar Retail Store Performance
· Demographic Customer Footfall Analysis
· In-Store Customer Engagement
· Checkout Scan Avoidance
· Stockroom Utilisation
· Labour Code 'Rest Break' Compliance
· PPE Compliance
The Company is headquartered in Dublin.
For further information, visit: www.everyangle.ai (http://www.everyangle.ai)
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